Upbeat financial forecasts from the likes of Texas Instruments Inc. and Qualcomm Inc. were unable to inspire a rally among shares in the segment, and Intel closed lower for the fourth session in a row.

The technology-laden Nasdaq Composite Index
$COMPQ
eased 6 points, or 0.3%, to close at 2,246. The Philadelphia Semiconductor Index
SOX, +0.00%
fell 8.5 points, or 1.7%, to finish at 488.4.

Shares of TI
TXN, -0.46%
lost ground in the wake of an update on the state of its business, issued after the close Wednesday. The world's largest supplier of mobile-telephone chips boosted the low end of its fourth-quarter earnings forecast and narrowed its sales estimate. See full story.

TI's stock gave up 93 cents, or 2.8%, to $32.63 Thursday.

For its part, Intel
INTC, +0.00%
saw its shares slip ahead of its own midquarter update, issued just after the close of trading. Intel shares lost 45 cents, or 1.7%, to $25.70.

The world's largest maker of computer chips tightened its projected quarterly revenue range to between $10.4 billion and $10.6 billion from a prior estimate calling for revenue of $10.2 billion to $10.8 billion.

Analysts had expected that Intel would lift the low end of its fourth-quarter sales estimate. See full story.

Elsewhere in the chip segment, National Semiconductor Corp.'s stock
NSM, -0.10%
rose slightly after it reported a quarterly profit that outpaced expectations. The chipmaker said its second-quarter profit rose a better than expected 27% on higher sales of chips used in mobile phones and other handheld consumer products. See full story.

The stock gained 9 cents, or 0.3%, to $27.77.

Qualcomm Inc.
QCOM, -0.25%
raised its quarterly outlook, thanks to higher average selling prices for handsets and a positive product mix. Nevertheless, the company's stock dropped 79 cents, or 1.8%, to $44.21. See full story.

Xilinx Inc.
XLNX, -0.04%
increased its quarterly sales outlook on stronger than expected demand from customers in North America and the Asia-Pacific region for chips used to power networking gear and consumer electronics. See full story.

Shares of Xilinx lost 46 cents, or 1.7%, to $26.02.

Meanwhile, Adobe Systems Inc.
ADBE, +0.58%
overnight said that it expected to book $20 million to $25 million in pretax restructuring charges to better align its resources. The company will take the charges, which relate only to its operations before its acquisition of Macromedia Inc., over the coming year.

Adobe expects to book further restructuring-related charged for its $3.7 billion purchase of Macromedia. The company reports quarterly results next Thursday, and investors will be looking for a financial update on the merged company. See full story.

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